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Jan 19, 2013
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that is the deficit. you take the sum total of those annual deficits and enter oast on them and that creates the national debt which right now is about 16.4 and change trillion dollars. now, the u.s. treasury is empowered to borrow money to make up the shortfall between revenue and expenses, the deficit. but only up to a certain limit. that's the debt ceiling. treasury does not make decisions about how the money is spent. they are simply empowered in this case to write the checks to pay the bills that are already incurred by your democratically elected congress. now that we've hit the debt limit, exceeded it a little bit, the treasury has two options. they can fiddle around with $200 billion the way you would if you're a little short on your monthly bills, paying some now, refinancing a little bit. that would get us through mid-february to early march. once that stops working the treasury needs to rely on the cash it has on hand and the revenue that comes in each day from taxes. problem is there isn't alw
that is the deficit. you take the sum total of those annual deficits and enter oast on them and that creates the national debt which right now is about 16.4 and change trillion dollars. now, the u.s. treasury is empowered to borrow money to make up the shortfall between revenue and expenses, the deficit. but only up to a certain limit. that's the debt ceiling. treasury does not make decisions about how the money is spent. they are simply empowered in this case to write the checks to pay the...
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Jan 14, 2013
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if the issue is deficit reduction, getting our deficits sustainable over time, getting our debt in a sustainable place, then democrats and republicans in congress will have a partner with me. we can achieve that and we can achieve it fairly quickly. we know what the numbers are, we know what needs to be done. we know what a balanced approach would take, and we've already done probably more than half of the deficit reduction we need to stabilize the debt and the deficit. there's probably been more pain and drama in getting there than we needed. and so finishing the job shouldn't be that difficult, if everybody comes to the conversation with an open mind and if there's some things like paying our bills should not be out of bounds. i'll take one last question. >> mr. president, i would like to ask you, now that you've reached the end of your first term, starting your second, about a couple of criticisms. one that's long-standing, another more recent. the long-standing one seems to become a truism of sorts, that you and your staff are too insular, that you don't socialize enough. and the
if the issue is deficit reduction, getting our deficits sustainable over time, getting our debt in a sustainable place, then democrats and republicans in congress will have a partner with me. we can achieve that and we can achieve it fairly quickly. we know what the numbers are, we know what needs to be done. we know what a balanced approach would take, and we've already done probably more than half of the deficit reduction we need to stabilize the debt and the deficit. there's probably been...
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Jan 15, 2013
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that is if congress doesn't come up with what it calls a credible medium term deficit reduction plan. understand that fitch is not just looking for an 11th hour debt ceiling deal that sets the table for another mini crisis down the road. the federal government hit the debt limit as you know on december 31st. the treasury is using so-called extraordinary measures to pay its bills through mid-february or early march. now, fitch predicts washington will extend the debt ceiling despite the current war of words between president obama and republicans in congress. what happens if we get downgraded? it happened before. remember 2011, when standard & poor's did it. that hit markets and the wider economy hard, but it didn't cause interest rates to increase. this time could be different, however, because the rest of the world is getting its act together. even successful businesses like ford are worried. here's what ceo alan mulally told me today. >> i think the most important thing to your point is that we come together around a solution that allows us to live within our means, to reduce our bu
that is if congress doesn't come up with what it calls a credible medium term deficit reduction plan. understand that fitch is not just looking for an 11th hour debt ceiling deal that sets the table for another mini crisis down the road. the federal government hit the debt limit as you know on december 31st. the treasury is using so-called extraordinary measures to pay its bills through mid-february or early march. now, fitch predicts washington will extend the debt ceiling despite the current...
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Jan 14, 2013
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i think a lot of what they complain about with respect to us, for example, our large fiscal deficits, one example, i think it would be in our interest to deal with. similarly, a lot of what we complain about with respect to them, their export-driven strategy, the absence of domestic demand, it's critically important to have sustainable growth going forward to deal with that issue. so i think we have a common self interest in dealing with many of the issues that we complain to each other about. >> what should be the core elements of a u.s.-china relationship going forward? >> the core elements of a cooperative u.s.-chinese relationship is in many respects in the communique by presidents obama and jintao of china, itemizing and developing several ears to be koob rating because it sets a framework, a framework in which the word partnership is really given meaning and a framework for something unprecedented in the history of human affairs, namely, when two major powers arise, they almost never collide. for the first time in history, america and china have the opportunity to avoid that, to
i think a lot of what they complain about with respect to us, for example, our large fiscal deficits, one example, i think it would be in our interest to deal with. similarly, a lot of what we complain about with respect to them, their export-driven strategy, the absence of domestic demand, it's critically important to have sustainable growth going forward to deal with that issue. so i think we have a common self interest in dealing with many of the issues that we complain to each other about....
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Jan 13, 2013
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jobs deficit. and to me this bill simply put a band aid on the problem. it did do something the president wanted to do, committed to do. he delivered on the promise to try to help protect the middle class but my fear is that in these next 3 -- three political maneuvers we're going to see that people will start attacking the middle class and i believe that this was our best opportunity to really take care long term the issues that we need to address to a balanced approach. >> so to follow up, you voted early, i was watching the board. you voted early. you didn't vote to see if it was going to pass and then vote no. was the idea that obama kind of lost some leverage there that you wanted to see it fail because obama now has to go back to the debt ceiling and he doesn't have the benefit of tax cuts looming? >> i knew it was going to pass. after the republicans walked away from the negotiations and then tried to plan b by speaker republican speaker bane thear failed where republicans wouldn't support t
jobs deficit. and to me this bill simply put a band aid on the problem. it did do something the president wanted to do, committed to do. he delivered on the promise to try to help protect the middle class but my fear is that in these next 3 -- three political maneuvers we're going to see that people will start attacking the middle class and i believe that this was our best opportunity to really take care long term the issues that we need to address to a balanced approach. >> so to follow...
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Jan 13, 2013
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you said the deficit we should focus on is the jobs deficit. >> is our biggest deficit, the jobs deficit. if you get people back to work, they are carrying -- paying their fair share of taxes. the treasury is receiving revenue. if the treasury is renewing -- is receiving more revenue, the deficit shrinks. we can grow the economy. the best way to do that is to put american, middle-class workers back to work. to me, every time you talk about stifling the economy through these very aggressive cuts to services and earned benefits, you are not helping the economy grow. the jobs deficit, to me, is the biggest deficit we face. but we have a lot of other challenges. social security medicare are among bashar not among the most immediate challenges. if you ash social security and medicare are not among the most immediate challenges. we have paid some $15 trillion in payroll tax to take care of social security benefits. how much have we actually used in benefits received by all americans? $14 trillion. we have a one dollar trillion -- $1 trillion in cash. all the trillions of dollars we have paid t
you said the deficit we should focus on is the jobs deficit. >> is our biggest deficit, the jobs deficit. if you get people back to work, they are carrying -- paying their fair share of taxes. the treasury is receiving revenue. if the treasury is renewing -- is receiving more revenue, the deficit shrinks. we can grow the economy. the best way to do that is to put american, middle-class workers back to work. to me, every time you talk about stifling the economy through these very...
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Jan 18, 2013
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we have an education deficit, we have a skill development deficit that is closely related to education, we have an infrastructure development and repair deficit of e enormously important proportions, and you need only look at the experience of other countries coming out of the recession including countries with very different political systems than ours to see the close relationship that infrastructure investment development has on the likelihood and the pace of recovery from a severe global downturn. we also have an important and urgent need to address the issue of energy independence, an opportunity that more than ever before is sitting right in front of us ready to be advanced in the next year or two. but again, it requires leadership and initiative in washington and immigration reform, again, a subject that was discussed before. one more word, finally, about the process. and for this i kind of go back to a much earlier part of my life when i was a professor or of law at columbia, and one of the summits i taught -- subjects i taught every year was negotiation, negotiation in a varie
we have an education deficit, we have a skill development deficit that is closely related to education, we have an infrastructure development and repair deficit of e enormously important proportions, and you need only look at the experience of other countries coming out of the recession including countries with very different political systems than ours to see the close relationship that infrastructure investment development has on the likelihood and the pace of recovery from a severe global...
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Jan 16, 2013
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deficit now exceeds 100% of debt gdp ratio. so we may be experiencing the initial tax of extended deficit financing. the longer-term problem is to a very large extent a product of key entitlement programs that are an important part of the nation's safety net for the elderly. the growth of spending in the nation's entitlement programs can help a program secure for current and future workers than we think that's very important. by 2035, there will be only two workers per beneficiary to 60 federal retiree who have 50% longer retirement than encouraging 1895. so this is a serious issue. currently the social security retirement is a pay-as-you-go system that provides for and no benefits and tax collects. this will lead to insolvency, particularly with the increasing number of baby boomers retiring every day is referred to by maia and lewis. others news, nor do i have the program make expertise necessary to suggest solutions, it's important that congress and allies acceptable methods to assure that these programs to retirees. reforms
deficit now exceeds 100% of debt gdp ratio. so we may be experiencing the initial tax of extended deficit financing. the longer-term problem is to a very large extent a product of key entitlement programs that are an important part of the nation's safety net for the elderly. the growth of spending in the nation's entitlement programs can help a program secure for current and future workers than we think that's very important. by 2035, there will be only two workers per beneficiary to 60 federal...
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Jan 14, 2013
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number of people who say, well, he's got to get the fiscal house in order, he's got to deal with the deficit. why is that important? >> i think it's important to design a sound fiscal program that both contributes to job creation and recovery in the short term, i absolutely believe programs do that by creating confidence and creating fiscal room for a moderate stimulus. and also meets long term imperative for addressing what i believe is an unsustainable and dangerous fiscal trajectory. in order to put ourselves on a sound fiscal footing, we're going to have to have substantially more revenues and more revenues means higher taxes whether it's the tax rates or reduced deduction, one or the other, that clearly is going to be a cost absorbed by those who pay the taxes, there are going to have to be constraints on our programs. that's what you have to do if you're going to get on a sound fiscal path, the longer you wait, the deeper your whole gets the harder it is to retain confidence. >> it's time to redue the country's convoluted tax system. the u.s. tax code is now 73,000 pages long. paul o'n
number of people who say, well, he's got to get the fiscal house in order, he's got to deal with the deficit. why is that important? >> i think it's important to design a sound fiscal program that both contributes to job creation and recovery in the short term, i absolutely believe programs do that by creating confidence and creating fiscal room for a moderate stimulus. and also meets long term imperative for addressing what i believe is an unsustainable and dangerous fiscal trajectory....
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wrong is the current problem of very high debt and combined with high deficits. do there's a large part to the great shock of that recession the. global slowdown starting in two thousand and eight and they became the victims of it now. it isn't the creation of the euro that caused the problem so much because before the euro came into being countries they could lee had a hundred twenty percent. g.d.p. ratios and greece greece had two hundred ten percent belgium had. one time in one thousand nine hundred forty five percent so they let there's a lack of fiscal discipline all and a movement to the left in europe big spending and on. and social projects that couldn't keep going it's no longer now europe also has a static population in some cases declining population and so you have more aged people more pension and bills to pay and fewer people to work to pay them. it created a big problem when the shot came but when you talk about dadt i mean there are i think two points to make because first of all has always been plagued with debt. reg its budget deficit in order t
wrong is the current problem of very high debt and combined with high deficits. do there's a large part to the great shock of that recession the. global slowdown starting in two thousand and eight and they became the victims of it now. it isn't the creation of the euro that caused the problem so much because before the euro came into being countries they could lee had a hundred twenty percent. g.d.p. ratios and greece greece had two hundred ten percent belgium had. one time in one thousand nine...
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do you think there is a deficit of coverage there? >> no, i think there is a surfeit of coverage. there is, it has been on the front page every single day that this working group has been around. it's on television all the time. there's no bigger issue in america right now. >> i disagree respectfully because when you look at what's getting attention. david gregory bringing an empty clip on "meet the press." alex jones on to cnn and newspapers publishing the addresses of gun owners in the front page. so, that's what's getting attention. i read "the post" and read those stories and they're all around in the press, but ne'er not getting attention because it's the circus on the television. >> those stories are part of the larger story. >> true. >> they should be the larger story. >> it raises the attention of the larger issue, as well. >> we're going to come back to some of those very incidents that you mentioned, robert. let me come back to keli on this issue. went basically hay wire over vice president biden saying the possibility of executive orders. as if this meant that the gover
do you think there is a deficit of coverage there? >> no, i think there is a surfeit of coverage. there is, it has been on the front page every single day that this working group has been around. it's on television all the time. there's no bigger issue in america right now. >> i disagree respectfully because when you look at what's getting attention. david gregory bringing an empty clip on "meet the press." alex jones on to cnn and newspapers publishing the addresses of...
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Jan 20, 2013
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reforming immigration, reducing the deficit gun control, averting climate change, maybe iran's nuclear program. certainly you get a sense it's going to be mainly domestic. certainly if you're looking at the tick box in the first four years, i would say killing bin laden, killing gadhafi, the american help to the arab spring, although it's not without difficulty, pulling troops in iraq and setting a timetable for afghanistan, these have all been a seen that president obama would rather focus on domestic issues rather than foreign issues. >> i think that's true. and i think you see that when he takes the bully pulpit. he doesn't go out and speak well. they' had several blunders on foreign policy issues. the most recent one is a failure for america to retaliate in some meaningful or symbolic way on the death of an american ambassador in benghazi. >> interesting point. the george bush administration would have piled in there, blown things to pieces and exacted terrible retribution. that's the american way for a long time. is that the right way? would that created, however awful the inciden
reforming immigration, reducing the deficit gun control, averting climate change, maybe iran's nuclear program. certainly you get a sense it's going to be mainly domestic. certainly if you're looking at the tick box in the first four years, i would say killing bin laden, killing gadhafi, the american help to the arab spring, although it's not without difficulty, pulling troops in iraq and setting a timetable for afghanistan, these have all been a seen that president obama would rather focus on...
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Jan 20, 2013
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he's more interested in that than i think than getting the deficits under control. >> one thing i will say four years ago before his first inauguration, he went to the waup editorial meeting and he talked a good game. he knows you need to put this country on a sustainable path not just for the economy but also just for dealing with our lock-term debt and american competitiveness. does he use his leverage like clinton did with welfare reform to try to come up with an acceptable solution on this key issue because we're confronting the debt, the republicans in congress are focused on it. it's going to be an area where he will have some maneuverability in the next two years. >> does he have that leverage? on the one hand he's got a republican base that says give us those big entitlement changes or we won't give you anything but he's got a democratic party that's already going to think ahead to the midterm elections. you have new voices. senator elizabeth warren of massachusetts said i will not cut medicare. >> and chuck schumer said today that the senate would come up with its own budget.
he's more interested in that than i think than getting the deficits under control. >> one thing i will say four years ago before his first inauguration, he went to the waup editorial meeting and he talked a good game. he knows you need to put this country on a sustainable path not just for the economy but also just for dealing with our lock-term debt and american competitiveness. does he use his leverage like clinton did with welfare reform to try to come up with an acceptable solution on...
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Jan 21, 2013
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you can't solve the financial deficit until they solve the trust deficit. maybe it's hopeful idealism. but maybe they made a small down payment today. >> i with us also thinking as i was watching the president review the troops, and you heard leon panetta talk about the first lady and jill biden and how much they have done for their troops and their families. but i'm willing thinking coming into this next phase, this is going to be a president that could have some difficult relationships with generals. he has always been concerned about the generals and not being overtaken by them. and he has spoken an awful lot about that as presidents have to make their own decisions, not be led too much by the generals. i think the nomination of chuck hagel is somebody who was a sergeant, whom he believes comes at the pentagon from the view of the bottom of the ladder, not at the top of the ladder. and so i think you're going to have some real issues. >> general stanley mcchrystal wrote about that actually in his new book. he talked about the deficit of trust they had ea
you can't solve the financial deficit until they solve the trust deficit. maybe it's hopeful idealism. but maybe they made a small down payment today. >> i with us also thinking as i was watching the president review the troops, and you heard leon panetta talk about the first lady and jill biden and how much they have done for their troops and their families. but i'm willing thinking coming into this next phase, this is going to be a president that could have some difficult relationships...
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Jan 15, 2013
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it does not create new deficits. it does not create new spending. so not raising the debt ceiling is sort of like a family which is trying to improve its credit ratings and i know how we can save money, we will not pay our credit card bills. not the most effective way to improve your credit rating. it was a very slow solution to the debt ceiling in august of 2011 that got the u.s. downgraded last time. so it's very important. all these issues are important, but it's very, very important that congress take necessary action to raise the debt ceiling to avoid a situation where our government does not pay its bills. >> a number of people have expressed concern about how much of the challenges actually were addressed in the deal. it went part of the way, as you mentioned. but it leaves a number of issues still on the table and traditional negotiations are looming. would you characterize that as an additional cliff that is facing us? or do you think it is not as concerning as it was when you raised the term initially? >> as i said, the fiscal cliff, if al
it does not create new deficits. it does not create new spending. so not raising the debt ceiling is sort of like a family which is trying to improve its credit ratings and i know how we can save money, we will not pay our credit card bills. not the most effective way to improve your credit rating. it was a very slow solution to the debt ceiling in august of 2011 that got the u.s. downgraded last time. so it's very important. all these issues are important, but it's very, very important that...
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Jan 16, 2013
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the deficit is much greater. when i think of the ways and means committee, would change their has been in the composition. the ranking member at a time when i started went to the world bank. i worked with bill on trade. he was handling the tax material mainly. and bill was working on health care at the time. i think a second major change is very much effective today and affects us today. it is this change in composition of the republican party. i think it has moved very much more to the right. i think that makes it very difficult to handle the problems that we have before us. let me comment briefly on where we are. you offer the president yesterday. we have had spending cuts of a trillion and a half dollars. it comes from the budget control act. we have a trillion and a half of spending cuts. essentially in terms of deficit reduction, and has over 600 billion. the account interest, we have essentially of a deficit reduction of $2.5 trillion. the president set a goal of an additional $1 trillion in deficit reducti
the deficit is much greater. when i think of the ways and means committee, would change their has been in the composition. the ranking member at a time when i started went to the world bank. i worked with bill on trade. he was handling the tax material mainly. and bill was working on health care at the time. i think a second major change is very much effective today and affects us today. it is this change in composition of the republican party. i think it has moved very much more to the right....
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assume we all want to reduce our deficits and reduce the amount of debt. do we want to do that by cutting social security and medicare and taking these entitlements and the safety net and fundamentally changing it or do we want more cash from individuals and from companies and whether you do that through higher rates or tax reform or getting rid of deductions, you know, that's a debate worth having and i think one that democrats can be in a pretty decent position to win if they talk about it in the right way. >> dan gross, thanks for coming. >> thank you. >>> next, developing news this afternoon on the latest sandy aid bill before congress. a house vote is expected tonight but there's plenty of opposition and maybe for good reason. we're spinning as "the cycle" rolls on for tuesday, january 15th. hey sis, it's so great to see you. you, too! oh, cloudy glasses. you didn't have to come over! actually, honey, i think i did... oh? you did? whoa, ladies, easy. hi. cascade kitchen counselor. we can help avoid this with cascade complete pacs. see, over time, casc
assume we all want to reduce our deficits and reduce the amount of debt. do we want to do that by cutting social security and medicare and taking these entitlements and the safety net and fundamentally changing it or do we want more cash from individuals and from companies and whether you do that through higher rates or tax reform or getting rid of deductions, you know, that's a debate worth having and i think one that democrats can be in a pretty decent position to win if they talk about it in...
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Jan 16, 2013
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it doesn't create new deficits. it doesn't create new spending. so not raising the debt ceiling is sort of like a family, which is trying to improve its credit rating sank i know how we can save money, we won't pay off credit card bills. not the most effective way to improve your credit rating. it was the very slow solution to the debt ceiling in august 2011 i got the u.s. downgraded last time. so it's very, very important that all these issues are important but it's very, very important that congress take necessary action to raise the debt ceiling to avoid a situation where our government doesn't pay its bills. >> a number of people have expressed concern about how much of the challenges actually were addressed in the deal. as you mention it certainly went part way but it leaves another the issues still on the table, and additional negotiations and are looking. would you characterize that as an additional clip that is facing us, or do you think that it's not as concerning as it was when you raised that term initially? >> as i said, the fiscal cli
it doesn't create new deficits. it doesn't create new spending. so not raising the debt ceiling is sort of like a family, which is trying to improve its credit rating sank i know how we can save money, we won't pay off credit card bills. not the most effective way to improve your credit rating. it was the very slow solution to the debt ceiling in august 2011 i got the u.s. downgraded last time. so it's very, very important that all these issues are important but it's very, very important that...
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Jan 20, 2013
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if you are truly a deficit buster, you actually should be for it. it is not going to happen. >> i will argue with the mathematics in a minute. morgan, the fact is that we knew we weren't going to get a full blown government-run health care system. we are going to inch our way into it. isn't that what is happening? obamacare what we saw passed a couple years ago was just the beginning of full blown government takeover health care. >> well, i do think rick makes a good point by saying it is unlikely this public option is going to happen. but i'm gonna jump on this idea of funky mathematics. this hundred billion dollar plus number that is getting thrown around is from a 2009 congressional office report. and then in 2010 the number was more like $68 billion. two different programs. and i think that is the big issue with the public option. there are so many if's and questions about whether this would make money or lose money. one of the biggest things being whether subsidees will be involved. >> mike, let's just pull back for a second. when government ta
if you are truly a deficit buster, you actually should be for it. it is not going to happen. >> i will argue with the mathematics in a minute. morgan, the fact is that we knew we weren't going to get a full blown government-run health care system. we are going to inch our way into it. isn't that what is happening? obamacare what we saw passed a couple years ago was just the beginning of full blown government takeover health care. >> well, i do think rick makes a good point by saying...
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extended deficit financing. the longer term problem is to a very large extent the product of key entitlement program that are an important part of the nation's safety net for the elderly. slowing the growth of spending in the nation's entitlement program help make programs secure for current and future workers, and we think that's very important. by 2035, there's only two workers per beneficiary, and a typical 65-year-old retiree, has a 50% longer retirement than occurred in 1995. this is a very serious issue. currently, the social security retirement is as a pay as you go system that provides more annual benefits than the payroll tax collects. if left alone, this eventually will need to insolvency, particularly with the rapidly increasing number of baby boomers who are retiring every day as was referred to by mya and louis. i don't have the programmatic expertise to suggest the right solutions, but it's important to analyze the acceptable message to assure that these programs can be available to future retirees
extended deficit financing. the longer term problem is to a very large extent the product of key entitlement program that are an important part of the nation's safety net for the elderly. slowing the growth of spending in the nation's entitlement program help make programs secure for current and future workers, and we think that's very important. by 2035, there's only two workers per beneficiary, and a typical 65-year-old retiree, has a 50% longer retirement than occurred in 1995. this is a...
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i think it's something here because there is this deficit in russian society there are many poor people still here people have been pulled out of poverty yes but there are still huge divisions in this country that hinders an identity. issue we can help bring the country there's a lot of black holes throughout russia when we're basically talking all the time about moscow but russians are right very huge country peter and i have traveled russia a lot and we've seen these places you know. and they're kind of stuck with whatever moscow decides they're stuck with that decision so they don't really have a place in the entire nationalism of the country of that pride they hear what moscow is doing over there and they're kind of left over on the sidelines they need to be involved more. interesting is when i was in lot of a stock for apec and that was a very different russia. was really quite refreshing because it was very conservative out there very patriotic extremely patriotic i was really impressed and the amount of money they put into investing it and that was kind of a branding rebranding o
i think it's something here because there is this deficit in russian society there are many poor people still here people have been pulled out of poverty yes but there are still huge divisions in this country that hinders an identity. issue we can help bring the country there's a lot of black holes throughout russia when we're basically talking all the time about moscow but russians are right very huge country peter and i have traveled russia a lot and we've seen these places you know. and...
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Jan 21, 2013
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david: so will america have to learn to live with the european-sized deficit? let's ask gerry seib, the "wall street journal" political editor. first of all, why are you here in new york when the inauguration is in d.c.? >> too much insanity down there. david: all right. he made a reference to the deficit but immediately followed that reference with a big but, he said we have to cut the deficit but we need to continue to spend more money for a bigger government? >> i think you have to think of this inaugural as having messages for both republican opposition and also his own base. i think the message to republicans was look, i have an agenda for a second term. it is going to include some things we didn't get around to like climate control in the first term because we were dealing with an economic crisis, and to his base he's saying look i'm not going to give in, i'm not going to cave because he's under some pressure from the left from people who say you have given up too much, you haven't talked about the poor enough. david: there are other democrats who are say
david: so will america have to learn to live with the european-sized deficit? let's ask gerry seib, the "wall street journal" political editor. first of all, why are you here in new york when the inauguration is in d.c.? >> too much insanity down there. david: all right. he made a reference to the deficit but immediately followed that reference with a big but, he said we have to cut the deficit but we need to continue to spend more money for a bigger government? >> i think...
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Jan 15, 2013
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fiscal cliff, deficit, every single issue. the president's bills never go on the floor of the senate. there are bills that mcconnell agrees to before they reach the floor. because otherwise they can't proceed. one of these reforms that senator merkley talked about is just no more motion to proceed. the majority leader can put a bill on the floor. this is out of control. >> now, let me show you your union's advertising campaign against the filibuster. and let me just show you that first. then i want to ask a question. >> as climate change threatens the world we leave to our children and good u.s. jobs move overseas, time in the senate ticks by. it keeps ticking by with no results. because the system is broken. but we can fix it. and make the senate work for us again. >> people are stunned when they find out it was not majority vote. that one senator can just stop the process. is it your hope and the hope of cwa that when you do ads like this that the public will put pressure on their senators to reform this and just make it fai
fiscal cliff, deficit, every single issue. the president's bills never go on the floor of the senate. there are bills that mcconnell agrees to before they reach the floor. because otherwise they can't proceed. one of these reforms that senator merkley talked about is just no more motion to proceed. the majority leader can put a bill on the floor. this is out of control. >> now, let me show you your union's advertising campaign against the filibuster. and let me just show you that first....
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Jan 17, 2013
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we have an education deficit. we have skill development deficits closely related to education. we have an infrastructure development and repair deficit of e mori nows -- enormously important pace of proportions, and look at other countries from the recession and countries with very different political systems than ours to see the close relationship that infrastructure investment and development have on the likelihood and pace of recovery from a severe, global downturn. we also have, if not a deficit, an important urgent need to address the issue of energy and independence and opportunity that's sitting right in front of us ready to be advanced in the next year or two, but that requires leadership and initiative in washington and immigration reform, again, the subject that was discussed before. one more word, finally, about the process. for this, i go back to an earlier part of my life as a professor of law and one of the subjects i taught every year was negotiation. negotiation of a variety of contacts from international to commercial and transactional to labor management dispu
we have an education deficit. we have skill development deficits closely related to education. we have an infrastructure development and repair deficit of e mori nows -- enormously important pace of proportions, and look at other countries from the recession and countries with very different political systems than ours to see the close relationship that infrastructure investment and development have on the likelihood and pace of recovery from a severe, global downturn. we also have, if not a...
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Jan 14, 2013
01/13
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on the newshour tonight, we'll examine what the president said about tackling the government deficit and reducing gun violence. >> brown: then, we turn to the west african nation of mali, where french troops have launched air strikes on islamic militants. three jihaddist groups now deemed a clear and present danger to the capital and beyond, a threat to africa and europe. >> woodruff: margaret warner has the story of the suicide of a young internet wizard who was facing federal charges for hacking and distributing online data he thought should be made public. >> brown: ray suarez updates the changes in cuba, where travel restrictions r
on the newshour tonight, we'll examine what the president said about tackling the government deficit and reducing gun violence. >> brown: then, we turn to the west african nation of mali, where french troops have launched air strikes on islamic militants. three jihaddist groups now deemed a clear and present danger to the capital and beyond, a threat to africa and europe. >> woodruff: margaret warner has the story of the suicide of a young internet wizard who was facing federal...
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Jan 15, 2013
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the president said a core of an additional $1 trillion deficit reduction. if are going to essentially destabilize the data, say 73% of gdp, we are going to have to, in the next period of time have a deficit reduction of about $1.4 trillion. for me, that's the goal we should set a period and so the argument we're having in addition to what the deficit to the target should be, were having a major battle over what should be the composition of deficit reduction. so let me just give you my point of view. the president yesterday talked about having balance had a thing for us democrats, that's the key. there has to be a mixture of spending cut and further revenue. and we need that balance for three reasons. number one, in order to promote economic growth. in my judgment, it followed that comes from cuts in programs, and i will accelerate economic growth. the second reason relates to income inequality. there has been a startling change in the last 20 years really. the middle-class has essentially been stagnant in the figure really is in 2010, 93% of income growth w
the president said a core of an additional $1 trillion deficit reduction. if are going to essentially destabilize the data, say 73% of gdp, we are going to have to, in the next period of time have a deficit reduction of about $1.4 trillion. for me, that's the goal we should set a period and so the argument we're having in addition to what the deficit to the target should be, were having a major battle over what should be the composition of deficit reduction. so let me just give you my point of...
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Jan 14, 2013
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the deficit. is that really the objective? the concern is we are spending more than we take in. that is the case, there is a way of balancing that so that we take in more money, increasing revenue, and we reduce spending. there is a recipe for getting that done. in the conversation i had was speaker boehner by the end of the year, we became pretty close, a few hundred dollars -- a few hundred billion separating us. it seems as though what is motivating this from the house republicans is more than debt reduction. they have a vision about what government should and should not do. they are suspicious about government policy commitment to make sure that seniors have decent health care as they grow older. they have suspicions about social security. they have suspicions about whether government should make sure that kids in poverty are getting enough to eat or whether we should be spending money on medical research. they have a particular view about what government should do and should be. that deal was
the deficit. is that really the objective? the concern is we are spending more than we take in. that is the case, there is a way of balancing that so that we take in more money, increasing revenue, and we reduce spending. there is a recipe for getting that done. in the conversation i had was speaker boehner by the end of the year, we became pretty close, a few hundred dollars -- a few hundred billion separating us. it seems as though what is motivating this from the house republicans is more...
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Jan 17, 2013
01/13
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talking about debt, deficit, government spending, 15, 20 years ago when no one was much focused on it here is a chance to take what you learned on the way up, what you learned on the way down. what you learned in congress before, the governorship and apply it to the debate of our time. >>> piers morgan will have an exclusive interview at 10:00 p.m. eastern on cnn. >>> quint se conrad bain, the d different strokes, has died. only one surviving member, willis. >> such a great show. you think of all of the drama cast members had over the years. >> i don't remember. i don't think i was born then. >> that show was a long time ago. >> amazing. >>> still ahead this morning on "starting point," hottest pregnant sri lankan, hottest indian chick. just a document categories in the "qq" hottest women of the millennium issue. we'll talk about that straight ahead. >>> and the girlfriend of notre dame's linebacker manti te'o died, millions came to his side. it was all a hoax. it wasn't caught and why not? mark greenberg and mark schlerath will join me to talk about that, straight ahead. officeyour b
talking about debt, deficit, government spending, 15, 20 years ago when no one was much focused on it here is a chance to take what you learned on the way up, what you learned on the way down. what you learned in congress before, the governorship and apply it to the debate of our time. >>> piers morgan will have an exclusive interview at 10:00 p.m. eastern on cnn. >>> quint se conrad bain, the d different strokes, has died. only one surviving member, willis. >> such a...
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controls on imports we have the so-called deficit hawks here in the united states who are downright hysterical that our debt to g.d.p. ratio is depending on whose numbers you're using and whether social security somewhere that ever had a seventy percent or one hundred ten percent and yet japan is over two hundred percent of their g.d.p. is dead is that not the case if i'm remembering correctly and if so why is that not a problem for them. well it is their figures them on that circuit or on it's hard to know with just these figures for us what's really going on because there may be double counting there but the larger issue here is that the deficit hawks in the united states are looking at the wrong thing they're looking at. the borrowing debt relative to the domestic economy what they should be looking at is the extent to which the united states is having to borrow abroad and of course these days particularly borrow borrow from china in effect american defense policy these days and months to borrowing from china to defend the curled up from china it is a totally nonsensical passage in india an
controls on imports we have the so-called deficit hawks here in the united states who are downright hysterical that our debt to g.d.p. ratio is depending on whose numbers you're using and whether social security somewhere that ever had a seventy percent or one hundred ten percent and yet japan is over two hundred percent of their g.d.p. is dead is that not the case if i'm remembering correctly and if so why is that not a problem for them. well it is their figures them on that circuit or on it's...
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Jan 17, 2013
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. >> he called me and said mark, you know, you have to do this he said you were talking about deficit, government spending 1520 years ago when nobody was that much focused on it. they are now. here's a chance for you to take what you learned on the way up, what you learned on the way down, what you learned in congress before, what you learned in the governorship and apply it to what is really the debate of our time. >> you will remember his governorship, which was riddled with that story where he admitted an affair with a woman from argentina back in 2009. >>> look at this, unless you're a little claustrophobic. this oregon woman spent nearly four hours trapped in an eight-inch space between an apartment building and a 20-foot wall. this happened early wednesday morning in downtown portland. apparently she fell from a second floor smoking area and getting her out was not easy. firefighters had to cut through a section of wall and used air bags to widen the space. lieutenant rich chapman is the firefighter who pulled that woman out. >> we were assuring her we were doing everything to g
. >> he called me and said mark, you know, you have to do this he said you were talking about deficit, government spending 1520 years ago when nobody was that much focused on it. they are now. here's a chance for you to take what you learned on the way up, what you learned on the way down, what you learned in congress before, what you learned in the governorship and apply it to what is really the debate of our time. >> you will remember his governorship, which was riddled with that...
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Jan 18, 2013
01/13
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anchoring that would actually indicate the determination to change the debt trajectory, reduce the deficit. >> lagarde gave her view on thursday. she supported a 2% inflation target which abe asked the bank of japan to set. she said it's a good idea if the central bank can maintain its independence. more business news next hour. here is a check on markets once again. >>> japanese prime minister has conveyed his concern. the two leaders met in the thai capital of bangkok. abe touched on the issue of the senkaku islands in the east china sea. the islands are controlled by japan but claimed by china and taiwan. he said chinese ships repeatedly violated the waters around the island and the country's plane entered japanese air space last month. he say it's crucial to deal with the issues in accordance to law. she offered her understanding for japan's position. she said thailand will play a constructive role in improving relations with relevant nations. >>> diplomats have agreed to urge the un security council to punish north korea for its latest mission law firm. japan's lead envoy in the six-p
anchoring that would actually indicate the determination to change the debt trajectory, reduce the deficit. >> lagarde gave her view on thursday. she supported a 2% inflation target which abe asked the bank of japan to set. she said it's a good idea if the central bank can maintain its independence. more business news next hour. here is a check on markets once again. >>> japanese prime minister has conveyed his concern. the two leaders met in the thai capital of bangkok. abe...
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Jan 15, 2013
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he said he's willing to compromise on cutting the budget deficit but not in exchange for increasing the debt ceiling. the u.s. government has reached a borrowing limit set by law but republicans continue to reject an increase without spending cuts in social security and other programs. now it's not the first time the u.s. has faced such a stand off. in the summer of 2011 the government and coness mained at odds over raising the limit until the last minute. the incident weighed down on share prices. it also prompted the first downgrade on u.s. government bonds. global car makers are showcasing their latest model at the 2013 international auto show in detroit. more than 50 new models are on display. the u.s. automarket has been recovering with sales rising more than 13% from the previous year. japanese automakers are focusing on fuel efficient compact cars that are gaining popularity. toyota is introducing a new streamline model in an effort to attract young u.s. car makers including ford and general motors are showcasing small cars as well as small vehicles like pickup truck. pickup truc
he said he's willing to compromise on cutting the budget deficit but not in exchange for increasing the debt ceiling. the u.s. government has reached a borrowing limit set by law but republicans continue to reject an increase without spending cuts in social security and other programs. now it's not the first time the u.s. has faced such a stand off. in the summer of 2011 the government and coness mained at odds over raising the limit until the last minute. the incident weighed down on share...
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Jan 17, 2013
01/13
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he is a deficit hawk. more important than that he is a thoughtful and conscious -- voice of a conscious for the senate throughout his term on fiscal responsibility. we worked together in a very effective way to try to bring some sort of bipartisan effort into the requirement that we do something about the debt. it was really, as was mentioned, an idea that we came up with on a long plane ride i think to central america to put together a commission that then threw into the simpson bowls proposal that has become the defining memo for the effort to try to get that is under control. is fond of quoting a friend of his, the foreign minister of australia. we met a few months ago who said to him the united states is one debt deal away from leading the world out of fiscal chaos and disruption. we are. we truly are. we are a nation on the brink of massive economic expansion. from the place that can't is from, north dakota, you see the change in the paradigm on energy. we will go from an important country to exportin
he is a deficit hawk. more important than that he is a thoughtful and conscious -- voice of a conscious for the senate throughout his term on fiscal responsibility. we worked together in a very effective way to try to bring some sort of bipartisan effort into the requirement that we do something about the debt. it was really, as was mentioned, an idea that we came up with on a long plane ride i think to central america to put together a commission that then threw into the simpson bowls proposal...